View Poll Results: which best describes your view of the inheritance tax?

Voters
153. You may not vote on this poll
  • There should be no inheritance tax of any amount of money or assets.

    84 54.90%
  • The first 5 million dollars should be exempt. After that the tax rate should be 35%.

    21 13.73%
  • The first 5 million dollars should be exempt. After that the tax rate should be 50%.

    12 7.84%
  • The first 1 million should be exempt. After that the rate should be 50%.

    19 12.42%
  • No exempt amount. Tax at 35% from the get-go.

    9 5.88%
  • No exempt amount. Tax at 50% from the get-go.

    1 0.65%
  • Abolish all inheritance. In other words, tax 100%.

    7 4.58%
Page 16 of 195 FirstFirst ... 614151617182666116 ... LastLast
Results 151 to 160 of 1947

Thread: which best describes your view of the inheritance tax?

  1. #151
    onomatopoeic
    mbig's Avatar
    Join Date
    May 2009
    Last Seen
    04-20-17 @ 08:59 PM
    Gender
    Lean
    Other
    Posts
    10,350

    Re: which best describes your view of the inheritance tax?

    Our Republic was founded on making a more just society than those in Europe from which it had sprung.
    If one always uses a simple/simpleton's version of 'fair', we'd be back to a pre-French Revolution or a 'serf-and-castle' distribution of wealth and power.

    Death, Taxes, and the American Founders
    By Andrew M. Schocket 12/12/10
    History News Network

    "....Today's debate echoes that of the nation's founders in another, more profound way. Does allowing a small number of families to accumulate great wealth -- increasing from generation to generation -- harm democracy? The United States Constitution's ban on inherited titles met with unanimous approval because of the perceived threat posed by lords and earls to a democratic republic. Similarly, Americans have always understood that establishing a small group of families with seemingly unlimited wealth, social privilege, and political power undermines a fundamental American principle: that all citizens are legally and politically equal.

    Some founders wanted to eliminate inheritance entirely. In a letter to James Madison, Thomas Jefferson suggested that all property be Redistributed every fifty years, because "the earth belongs in usufruct to the living." Madison gently pointed out the plan's impracticality. Benjamin Franklin unsuccessfully pushed for the first Pennsylvania constitution to declare Concentrated wealth "a Danger to the happiness of mankind."

    At the other end of the spectrum, the Constitutional Convention decided to forbid the English practice of allowing the government to seize the entire estate of a person convicted of treason. They reasoned that the property even of citizens who had committed the highest crimes against the nation should not be wholly confiscated.

    But, again like today, most people held views in between. By the 1770s, because of the practices of primogeniture (requiring all property to go to the deceased's first son) and entail (allowing families to will property that could never be divided or sold), along with rich families' penchant for land speculation, about three-quarters of Virginia's good land was owned by only a few hundred families, out of a population of around 400,000. Pressed by the small farmers and landless men on whom it depended for military service, Virginia banned primogeniture and entail in 1777. Virginia reached a compromise: Rich families didn't lose their land, but large estates got Broken up over time, thereby loosening the richest families' grip over Virginia's economy and politics.

    So, as with other political issues—even independence itself—Revolutionary-era Americans held a range of views on how much property people should be allowed to pass on to their children. But one thing is certain: They hoped to Prevent the emergence of a small group of people with Perpetual wealth and thus Perpetual privilege. Keeping a robust estate tax today would further that goal, and it would be consistent with a long-standing tradition of American democracy.
    Bunch of Socialists eh?
    Last edited by mbig; 01-29-12 at 12:49 PM.
    I'm personally sick of not being able to dunk a basketball because of racism.
    anon

  2. #152
    Sage

    Join Date
    Sep 2010
    Last Seen
    Yesterday @ 11:54 PM
    Lean
    Undisclosed
    Posts
    89,605

    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    Yes, that's one way to look at it. But we can define what is income any way we want to define it, and I'll support StillBallin's explanation over yours.

    I wonder about your definition of income. If I give my kid ten bucks to go to the movies, is that $10 income to him? How about if I give him a bowl of oatmeal for breakfast, is that bowl of oatmeal income to him?


    Yes, tax every bowl of oatmeal!
    You are embracing absurdity.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

  3. #153
    Sage

    Join Date
    Sep 2010
    Last Seen
    Yesterday @ 11:54 PM
    Lean
    Undisclosed
    Posts
    89,605

    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by mbig View Post
    Death, Taxes, and the American Founders
    By Andrew M. Schocket 12/12/10
    History News Network
    Thank you for that post mbig. It certainly gives us a far different impression that those here who want to pretend the opposite about our founders.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

  4. #154
    Banned
    Join Date
    Oct 2011
    Location
    Penn's Woods
    Last Seen
    09-01-12 @ 09:09 PM
    Lean
    Independent
    Posts
    2,984

    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    You are embracing absurdity.
    I am embracing your definition of income.

  5. #155
    Educator Gary's Avatar
    Join Date
    Jan 2012
    Last Seen
    12-29-12 @ 12:14 AM
    Gender
    Lean
    Undisclosed
    Posts
    1,106

    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by TurtleDude View Post
    I tire of the mindset that you and yours are more entitled to other peoples wealth than those that the creator of wealth bequeaths it o

    and it is a death tax whether you lovers of that abomination want to deny that.

    ANd the rich are paying more of the tax burden now than at any time in the last 50 years because people like you are paying LESS.


    The good news is that unions are dying and the sooner they are gone the sooner we can get back to wiping the stain of welfare socialism out of this country
    States that impose an estate tax are: Connecticut, Delaware, District of Columbia, Hawaii, Maine, Maryland, Massachusetts, Minnesota, New Jersey, New York, Ohio, Oregon, Rhode Island, Vermont, and Washington.
    Source: Taxes by State

    I wonder why these state have estate taxes? These are some of the richest per capita states.

  6. #156
    Sage

    Join Date
    Sep 2010
    Last Seen
    Yesterday @ 11:54 PM
    Lean
    Undisclosed
    Posts
    89,605

    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Centinel View Post
    I am embracing your definition of income.
    NO. You are trying to avoid an honest discussion about inheritance by reducing everything to an absurdity like taxing your kids oatmeal. Such tactics are the last refuge of the desperate unable and unwilling to discuss the realities of the issue.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

  7. #157
    Basketball Nerd
    StillBallin75's Avatar
    Join Date
    Jan 2011
    Location
    Vilseck, Germany
    Last Seen
    Yesterday @ 07:52 AM
    Gender
    Lean
    Progressive
    Posts
    21,896

    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by haymarket View Post
    You are embracing absurdity.
    Aside from degree (a few bucks versus millions of dollars), how is Centinel's example of a father handing his son a few bucks to go to the movies any different from inheritance? The point I've been trying to make here is that inheritance is not income. And neither is a transfer of cash from one individual to another.

    Now many folks have been arguing that there should be an estate tax so as to diminish the power of an aristocracy - a class with perpetual wealth and privilege. Though my views have changed on the subject recently, I am not unsympathetic to that viewpoint.

    However, to argue that inheritance should be taxed because it is a form of income is simply a faulty argument - because it's not income.

  8. #158
    Professor
    Luna Tick's Avatar
    Join Date
    Jan 2010
    Location
    Nebraska
    Last Seen
    04-05-13 @ 05:48 PM
    Gender
    Lean
    Undisclosed
    Posts
    2,148

    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by gmeyers1944 View Post
    I am NOT a fan of the Miami Dolphins, but I think that is was so unfair that several years ago when the owner of the team died, his heirs had to sell the team to pay the death tax.
    That's exactly the problem with the inheritance tax. It usurps the right to bequeath away from the person who has died. In the case you cite, the Dolphins owner wanted the team to go to his heirs, but the death tax made that impossible. Cases like this happen all the time, but are not high profile. Families lose their family business. Often the family members have worked there all their lives to build it up without being the actual owner. These businesses ought to be able to continue as they were before the person died.

    Quote Originally Posted by StillBallin75 View Post
    [B]....What I and TD (and I usually HATE agreeing with TD and other assorted righties) are arguing is that INHERITANCE IS NOT INCOME. ...
    It's not income. It's a gift. There is not an exchange of value for services rendered. The person who has died has chosen to give what he has to someone else. Gifts should not be taxable.

  9. #159
    Sage

    Join Date
    Sep 2010
    Last Seen
    Yesterday @ 11:54 PM
    Lean
    Undisclosed
    Posts
    89,605

    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by StillBallin75 View Post
    Aside from degree (a few bucks versus millions of dollars), how is Centinel's example of a father handing his son a few bucks to go to the movies any different from inheritance? The point I've been trying to make here is that inheritance is not income. And neither is a transfer of cash from one individual to another.
    The responsibility of a parent to care for and provide for their children is not income and can be excluded from that definition if need be by law. Is that really so hard to contemplate that we can tell the difference between feeding your kids and giving them millions of dollars?
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

  10. #160
    Basketball Nerd
    StillBallin75's Avatar
    Join Date
    Jan 2011
    Location
    Vilseck, Germany
    Last Seen
    Yesterday @ 07:52 AM
    Gender
    Lean
    Progressive
    Posts
    21,896

    Re: which best describes your view of the inheritance tax?

    Quote Originally Posted by Luna Tick View Post
    That's exactly the problem with the inheritance tax. It usurps the right to bequeath away from the person who has died. In the case you cite, the Dolphins owner wanted the team to go to his heirs, but the death tax made that impossible. Cases like this happen all the time, but are not high profile. Families lose their family business. Often the family members have worked there all their lives to build it up without being the actual owner. These businesses ought to be able to continue as they were before the person died.



    It's not income. It's a gift. There is not an exchange of value for services rendered. The person who has died has chosen to give what he has to someone else. Gifts should not be taxable.
    100% concur.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •